SBRA FY 2013 Earnings Report — Sabra Health Care REIT, Inc. Revenue & Financial Results | Market Cap Arena

Sabra Health Care REIT, Inc.SBRA

FY 2013 Earnings

Reported February 28, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$135M	—	$103M	—	30.6%
Op. Income	$85M	—	$57M	—	49.8%
Gross Margin	100.0%	—	100.0%	—	0.0pp
Net Margin	25.0%	—	18.9%	—	6.1pp
EPS (Diluted)	$0.68	—	$0.52	—	30.8%
Free Cash Flow	$62M	—	$56M	—	10.4%

Revenue Flow

Item	Amount
REVENUE	$135M
Cost of Revenue	$0
GROSS PROFIT	$135M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	-$800.0K
Operating Expenses	$50M
Cost & Expenses	$50M
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$40M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$34M
Income Tax Expense	$0
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$33M
EBIT	$74M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$135M
Cost of Revenue	$0
GROSS PROFIT	$135M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$16M
SG&A Expenses	$16M
Other Expenses	-$800.0K
Operating Expenses	$50M
Cost & Expenses	$50M
OPERATING INCOME	$85M
Interest Income	$0
Interest Expense	$40M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$34M
Income Tax Expense	$0
Net Income from Continuing Ops	$34M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$34M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$26M
D&A	$33M
EBIT	$74M
EBITDA	$33M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$34M
Depreciation & Amortization	$33M
Stock-Based Compensation	$8M
Deferred Income Tax	$188.0K
Other Non-Cash Items	-$11M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$62M
Capital Expenditure	$0
Acquisitions (Net)	-$7M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$290M
NET CASH FROM INVESTING	-$298M
Net Debt Issuance	$118M
Common Stock Repurchased	$0
Common Dividends Paid	-$58M
Other Financing Activities	-$10M
NET CASH FROM FINANCING	$223M
FREE CASH FLOW	$62M
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$4M
Short-Term Investments	$0
Net Receivables	$178M
Inventory	$0
Other Current Assets	$5M
TOTAL CURRENT ASSETS	$258M
PP&E (Net)	$915M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$24M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$940M
TOTAL ASSETS	$1.2B
Account Payables	$22M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$46M
Long-Term Debt	$691M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$691M
TOTAL LIABILITIES	$738M
Common Stock	$388.0K
Additional Paid-In Capital	$535M
Retained Earnings	-$75M
Treasury Stock	$0
Accum. Other Comp. Income	-$75M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$460M
Minority Interest	$0
TOTAL EQUITY	$460M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$691M
Net Debt	$687M